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Payroll processed but one wage had to be split between 2 months and now out of balance and can't reconcile bank statement

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Robyn2017
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Payroll processed but one wage had to be split between 2 months and now out of balance and can't reconcile bank statement

I processed payroll for wages on the last day of November and transferred all but one wage on that day.  I was requested to pay part of one wage on that day and the business owner was going to transfer the rest later that day or that night.  Unfortunately, the rest of the employees wage wasn't able to be paid until the following day, which by then was December so now I have one wage processed as the full amount but paid over 2 months and when came time to process November and then December bank statements they were out of balance and I wasn't able to reconcile them or any months since (January to current bank statements I still have gone into Bank Reconcilliation to process and balance any transactions not already in system to check if the total deposits and withdrawals in MYOB match with the bank statement but still won't let me reconcile because of November and December statements.  Is there a way I can fix this so that I can reconcile all bank statements from November onwards?  I spoke to someone in MYOB support when first occured and was told to not select that particular wage which would mean my statement would be out of balance (which he said was ok for it to be) and then when I got December statement also don't select the first wage for that employee of December as doing that would cancel out the out of balance amount.  Unfortunately this process didn't work, I've even tried reconciling November and December bank statements as one reconcilliation but still won't let me reconcile.

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MYOB Moderator Hayden_B
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Hayden_B
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Re: Payroll processed but one wage had to be split between 2 months and now out of balance and can't reconcile bank statement

Hi @Robyn2017

 

Welcome to the MYOB Community Forum, I hope you find it a great source of information.

 

Going by this if we have processed a part amount of an Employees wage in November and completed the rest in December, but in MYOB we reflect this as paying the total in November, then I can think of 2 options here:

 

1. Reconcile the period as November & December combined.

If we go from 01/11 > 31/12 the closing balance should encompass the entirety of the period including the wages spread across Monthly period.

 

Assuming the Last Reconciled Date is 31/10, then if you enter the Bank Statement Date of 31/12 and tick off all transactions, the Calculated Statement Balance should match the Closing Statement Balance of December.

 

2. Create a "Reversal" of the amount not yet paid.

For example:

If the total was $1000 showing as paid in November, though it was $500 in November and $500 in December, then if we record a Journal showing $500 coming back in November we'll have this:

Credit: $1000

Debit: $500

End Result: Credit $500

 

Then we record the opposite Journal in December to show the extra $500 leaving the account again so that you can have the correct debits and credits in both months.

 

You can record a Journal by using the Record a Journal Entry feature in AccountRight, or you could also use Receive Money and Spend Money as needed as the effects will be the same. I suggest speaking with your Accounting Adviser if you are unsure which accounts to use temporarily.

 

 

I hope this helps, please feel free to reach out if you have any questions on these processes.

 

Cheers,
Hayden
MYOB Partner/Social Support


Cheers,

Hayden

MYOB Community Support

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Robyn2017
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Robyn2017
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Re: Payroll processed but one wage had to be split between 2 months and now out of balance and can't reconcile bank statement

Hi Hayden,

 

Thanks so much for you reply, I was starting to think nobody on the forum was going to be able to answer this one as the situation I had was something that happens rarely often with MYOB users.  I've since resolved the issue last week and just reconciled November and December together as one statement period of 01/11/17 to 31/12/17 which was the first option you gave me.

MYOB Moderator Hayden_B
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Hayden_B
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Re: Payroll processed but one wage had to be split between 2 months and now out of balance and can't reconcile bank statement

Hi @Robyn2017

 

That's great to hear that you managed to get to a solution. I do apologise for the delay in responding.

 

If you do have any further enquiries don't hesitate to post them on the forum, I'm sure the Community would be happy to assist.

 

Cheers,
Hayden
MYOB Partner/Social Support


Cheers,

Hayden

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

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